Exercise 6-6 On December 1, Flounder Electronics has three DVD players left in stock. All are identical, sell at $98. One of the three all are priced to DVD players left in stock, with serial 1012, was purchase on June 1 at a cost of $60. Another, with serial #1045, was purchased on November 1 for $55. The last player, serial R1056, was purchased on November 30 for $46 Calculate the cost of goods sold using the FIFO periodic inventory method, assuming that two of the three players were sold by the end of December, Flounder Electronics' year-end The cost of goods sold using the FIFO LINK TO TEXT If Flounder Electronics used the specific identification method instead of the FIFO method, how might it alter its earnings by selective choosing which particular players to sell to the two customers? What would Flounder Electronics' cost of goods sold be if the company wished to minimize earnings? Maximize earnings Cost of goods sold would be if it wished to minimize the earnings Cost of goods sold would be if it wished to maximize the earnings